Quora Answer: Is It Beneficial for Financial Advisors to Make a Lateral Change?

The following is my answer to a Quora question: “Is it beneficial for financial advisors make a lateral change?”

That is very difficult to answer.  What sort of lateral change?  Is it moving to the back room such as Underwriting or Policy Services?  Is it moving to another bank, insurer or financial institution?  There are advantages and disadvantages, but it is entirely dependent on the individual, the career path they want, and the changing circumstances.

What is most pertinent, regardless of where they are, is their client network.  If a financial advisor is good, his clients tend to be very loyal.  Good financial advisors are paid good money to bring their client networks over and transition their investments, instruments and policies.  However, if a financial advisor moves too much, he loses his credibility with his clients because investors like stability.